Jefferies Financial Group Inc. Acquires Shares of 73,200 Entergy Corporation (NYSE:ETR)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Entergy Corporation, purchasing 73,200 shares valued at approximately $6.26 million in the first quarter.
• Several large investors, including Bank of America Corp and FMR LLC, have significantly increased their holdings in Entergy during the fourth quarter, with Bank of America raising its stake by 142.8%.
• Wall Street analysts show optimism for Entergy's stock performance, with most ratings indicating "Moderate Buy" and a price target range from $81.00 to $102.00.

Jefferies Financial Group Inc. purchased a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 73,200 shares of the utilities provider's stock, valued at approximately $6,258,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE increased its position in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. FMR LLC lifted its holdings in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the period. Invesco Ltd. grew its position in Entergy by 63.8% in the 4th quarter. Invesco Ltd. now owns 8,514,250 shares of the utilities provider's stock valued at $645,550,000 after buying an additional 3,316,758 shares in the last quarter. Finally, Capital International Investors increased its stake in Entergy by 103.6% during the 4th quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock valued at $589,389,000 after buying an additional 3,956,122 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETR. Morgan Stanley dropped their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. KeyCorp reaffirmed an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday. Raymond James Financial began coverage on Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. BMO Capital Markets raised their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Entergy has an average rating of "Moderate Buy" and an average price target of $88.07.

Entergy Stock Performance

Entergy stock traded up $1.98 during trading hours on Monday, hitting $91.65. The stock had a trading volume of 3,509,584 shares, compared to its average volume of 2,721,498. Entergy Corporation has a fifty-two week low of $57.58 and a fifty-two week high of $91.90. The company has a market cap of $39.48 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57. The company has a 50-day moving average of $83.55 and a two-hundred day moving average of $83.22. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. On average, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is 59.85%.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.